Bitcoin Long Traders Bear The Weight As Liquidations Continue

Bitcoin liquidations have continued as the year draws to an end. The year has been rocked with liquidations that have gone past the $100 billion mark and there does not seem to be a stop even as 2022 rolls around. Long traders have had to bear the brunt of the losses given the recent downtrend. As bitcoin looks set to finish the year off below $50K, these losses will continue well into the year.

Bitcoin Liquidations Continue

Data on the 12 and 24-hour scales on Coinglass shows that bitcoin liquidations have not really slowed down. This number has climbed for the past 12 hours as of the time of this writing and has grown past $31 million in the same time period. For the 24-hour volume, the number is much higher at $46 million but shows more losses recorded over the last 2 hours than the whole day.

Related Reading | Bitcoin Only Works For The Wealthy, Senator Elizabeth Warren

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

This follows the general trend of 2021 that has seen long traders suffer tremendously in the market. While there certainly was money to be made for these long traders due to the various bull rallies that the market experienced, the crashes were swift and brutal leading to quick liquidations that went into the billions of dollars.

Bitcoin price chart from

BTC trading at $47K | Source: BTCUSD on

Bitcoin short traders have been doing well with the downtrend as bears continue to drag BTC’s price down. The majority of the liquidations recorded for the digital assets have been for long traders. The highest volume has been from crypto exchange Binance which hosts the majority of traders in the market given its trading volume.

Get 110 USDT Futures Bonus for FREE!

Ethereum Trades Not Left Out

Bitcoin traders are not the only ones suffering the effects of ongoing market liquidations. Ethereum traders are also bearing a significant portion of the weight with this. The digital asset has also seen traders get rekt on both the 12 and 24-hour time frames, with liquidations going into the tens of millions.

Like bitcoin, the 12-hour liquidations have made more impact than their 24-hour counterparts. Ethereum liquidations for the past 12 hours have come out to over $21 million. While on the 24-hour scale, there have been a total of $38 million in liquidations going on.

Related Reading | Bitcoin Should Not Be Measured In Dollar Terms, Says Pompliano

Long traders are once again seeing the majority of the losses. Since ETH’s price, moving in tandem with that of bitcoin has continued to decline, these long traders are seeing their positions liquidated and are incurring heavy losses. Additionally, Binance is also the exchange recording most of the liquidations on this end.

LUNA traders are also feeling some of the heat with over $2 million liquidated in the past 24 hours. If the market continues its current trend, traders may only be seeing what is the start of a stretched-out period of liquidations.

Featured image from, chart from


Tagged : / / / / / / / /

Ethereum Exchange Withdrawals Reaches One-Year Low. Why This Matters

Ethereum has seen plummeting exchange withdrawals in recent times. Exchange withdrawals are a metric that is used to sometimes map out investors’ sentiment towards a cryptocurrency. With Ethereum exchange withdrawals reaching one-year lows, it brings to light some facts about the digital asset and where it may be headed. We’ll explore some of that in this article.

Exchange Withdrawals Plummet

Data from Glassnode shows that ethereal exchange withdrawals have been on the decline. This metric had held up through multiple bull rallies and going against the grain as investors chose to move their ETH holdings out of exchanges. It signaled a high accumulation pattern among investors that showed that sentiment remained firmly in the positive as holders refused to sell.

Related Reading | Billionaire Ray Dalio Explains Why He Owns Bitcoin And Ethereum

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

However, this has now turned as more investors are opting to leave their assets on exchanges. This could mean one of two things. One would be that sentiment has now turned from buy to sell. Investors are no longer moving their holdings off exchanges to hold for the long-term, meaning that they may plan to sell their Ethereum sooner rather than later.

Since the digital asset has just come out of an impressive rally, investors may start taking profit if the asset continues to correct downwards.

Chart showing Ethereum exchange withdrawals

Get 110 USDT Futures Bonus for FREE!
Ethereum exchange withdrawals hit one-year low | Source: Glassnode

At the same time, investors may be expecting the digital asset to rally once again, keeping their holdings on exchanges to make for an easier sell when this does happen. Nevertheless, in both cases, more ETH being on exchanges point to investors being ready to sell their coins.

This could mark the end of the bull cycle as investors dump their holdings on the market. Once supply outpaces demand from these sell-offs, then prices can be expected to continue to drop.

Ethereum Liquidations Continue

Bitcoinist had reported that Ethereum had been experiencing high liquidations as the price of the digital asset had plummeted. In a space of 24 hours, over $31 million in futures had been liquidated. These liquidations have continued as the number has now grown by half.

Related Reading | Bitcoin Whale Address Containing $11 Million Activates After 9-Year Dormancy

In a 12-hour period, the digital asset had seen over $22 million in liquidations and more than double that for the 24-hour period. This number hit as high as $51 million in the early hours of Tuesday and promises to continue as ethereum’s price continues to stagger.

The price of ETH has once again recovered above $4,000 but bears continue to put up a fight as the digital asset tries to find its footing above this price point.

Ethereum price chart from

ETH recovers above $4,000 | Source: ETHUSD on
Featured image from Wccftech, chart from


Tagged : / / / / / /
Bitcoin (BTC) $ 43,294.60 1.15%
Ethereum (ETH) $ 2,354.00 5.44%
Litecoin (LTC) $ 74.07 2.31%
Bitcoin Cash (BCH) $ 246.97 0.94%